Quincus, a Singapore-based enterprise Software as a service (SaaS) platform, has raised an undisclosed amount in the second close of its Series B funding round led by AEI HorizonX, a venture capital firm backed by private equity firm AE Industrial Partners and aerospace firm Boeing.
The company earlier raised an undisclosed amount in the first closing of its Series B from investors including UP. Partners and GGV Capital. The round valued the company at over $100 million.
Quincus said in a statement, the latest investment will be used for the expansion of the firm’s global footprint with an emphasis on commercial growth in the United States.
“As logistics operators plan their future fleets – from traditional freighter aircraft to autonomous vehicles – Quincus is uniquely positioned to help their customers open and optimize completely new routes by leveraging novel cargo delivery vehicles,” said Beckett Jackson, a Director at AEI HorizonX.
“With our deep experience in current and future air platforms, AEI HorizonX and Boeing will create a unique partnership with Quincus to explore the future of cargo delivery. We look forward to working closely with Jonathan and his entire team,” he added.
Quincus marks AEI HorizonX’s first investment in a new company under its management by AE Industrial Partners, a private equity firm specializing in aerospace, defense and government services, space, power and utility services, and specialty industrial markets.
AEI HorizonX was formed as Boeing’s corporate venture capital arm in 2017 and provides early-stage companies with access to resources and opportunities. AEI HorizonX chose Quincus as its first investment based on its ability to connect shippers, operators, and freight forwarders with an open operating system while reducing the industry’s overall carbon footprint.
“With the backing of AEI HorizonX, Quincus not only gains additional capital but greater access to the deep operational knowledge and industry relationships that Boeing and AE Industrial have built over many decades,” said Jonathan E. Savoir, Chief Executive Officer and Co-founder at Quincus.
“AEI HorizonX, along with our existing Series B investors UP. Partners and GGV Capital, will provide an important strategic advantage as we look to expand our global footprint and invest in innovative platform and optimization offerings for our customers. We are excited about the future,” he added.
Quincus is an enterprise SaaS platform that helps solve logistics problems for e-commerce, airlines, freight, and household brands worldwide. It provides the logistics industry with a machine-learning-enabled platform that optimizes and automates shipping operations.
Using Quincus’ highly configurable and modular technology, companies can automate manual tasks, maximize resources across supply chains, and build business resilience to thrive. The combination of flexibility, seamless integration, and robust data intelligence provides real-time supply chain visibility and control, helping companies save time and resources.
Since its founding in Singapore, its clientele has grown to include several e-commerce, airlines, freight, and household brands across the world, notably in Southeast Asia with markets such as Singapore, Indonesia, Malaysia and Vietnam. The close of its initial Series B round saw an expansion of its global footprint in Asia-Pacific and beyond.
Singapore-based Quincus raises Series B at over $100M valuation